The authors conclude that further development of innovation-intensive sectors implies the application of appropriate industrial policies specific for containing the elements of both vertical and horizontal policies which should focus on encouraging development and innovation. In their paper, I. Domazet, D. Marjanović, D. Ahmetagić, and M. Bugarčić analyze the correlations and conditionality of exports of HTP (share of exports in total country exports) and selected indicators that have an impact on innovation: GDP, R&D costs, degree of education of the population, number of researchers (in four sectors) and the global innovation index. The results of the research indicate that if the analyzed countries do not find resources to intensify investment in education and R&D, they will not reach the average EU innovation indicators for many years ahead.
In the Tourism section, S. Vujović, N. Vujić, J. Premović and M. Kalinić determine the relationship between socio-demographic variables and the respondents’ opinions on the advantages of Belgrade’s tourist offer over other European capitals as tourist destinations. In the second paper, a trio of authors, A. Đorđević, S. Topalović, and V. Marinković, analyzes the effects of four dimensions of perceived value (functional, economic, emotional and social) on the loyalty of service users in hotel and tourism industries. The results of the research show that out of the four dimensions of perceived value, two key dimensions (emotional and social) have a statistically significant influence on the loyalty of hotel service users.
In the Finance section, S. Drljača Kanazir estimates the degree of systemic risk exposure of the Serbian banking sector’s loan portfolio in the period from 2008Q4 to 2019Q3, observed also in terms of the main commercial segments (corporate and retail). The results of the research corroborated the truthfulness of both hypotheses, which has a multifold significance for commercial banks’ management, as well as for macroeconomic and macroprudential policymakers. In the International Economics section, A. Kemiveš and L. Barjaktarović examine the impact of external factors on the dynamics of foreign direct investment (FDI) trends in specific economies. Finally, M. Petrović, D. Rajin, D. Milenković and D. Marić examine in their paper the influence of eWOM on factors such as social norms, initial trust, perceived usefulness, ease of use, attitude and intention of using mobile banking in the territory of Serbia.